By Roland Murphy for Arizona Builder’s Exchange
Leading industry economic indicator the Architecture Billings Index gained in December with a score of 50.9, up from 49.3 the previous month. Any number more than 50 shows an increase in billings.
Key highlights in the report show regional averages for the West at 53.7, South at 53.3, Northeast at 46.7 and Midwest at 46.1.
By sector, the three month averages were: MFR: 52.9, Institutional: 52.2, Commercial/Industrial: 47.3, and Mixed Practice: 46.5.
The design contract index was 51.0, and the new projects inquiry index was at 60.2.
Regional and sector categories are three-month moving averages. National index, design contracts and inquiries are monthlies.
Noting an ongoing mix of conditions impacting architecture business trends, AIA Chief Economist Kermit Baker said the scores for 2015, which were positive in eight of the 12 months and averaged only slightly lower than 2014, show another healthy year for construction.